Wagering on U.S. horse racing declined sharply in June 2025, with total betting handle falling more than 7% compared to the same month a year ago. According to figures released by Equibase Friday, $956.8 million was wagered on U.S. races last month, down from $1.03 billion in June 2024—a drop of 7.18%.

The dip in handle perhaps was driven by declines across most major racing metrics. The number of race days fell 6.86% (from 408 to 380), total races were down 7.58%, and field size dipped modestly from 7.18 to 7.06 starters per race.

Purses were also affected, with available purse money decreasing by 5.87% to $114.6 million and paid purses dropping nearly 6% to $110.3 million.

While the year-to-date figures aren’t good, they paint a somewhat better picture than the June figures. From January through June, total wagering on U.S. races stands at $5.79 billion, down 2.77% from the same period in 2024. The decline comes even as the industry has hosted fewer race days (1,712 vs. 1,790) and races (14,175 vs. 14,820) through the first half of the year. Both of the latter figures are more than 4% below 2024.

Interestingly, some key averages are trending in a positive direction. Average field size is up 1.43% year-over-year to 7.54 horses per race. Average wagering per race day rose 1.66% to $3.38 million, while average available purses per day increased 1.24% to just over $344,000.

Wagering handle topped $15 billion for three consecutive years, ending in 2004 before entering a prolonged decline. It was just under $11.3 billion in 2024, a 3.3% dip from the year before.